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The real estate resale prices dipped even more, across all market segment, during the last quarter. However, we saw a dissimilar angle for the private and public sectors.
The government flat sector is regaining control, Piermont Grand EC property prices went through the biggest quarterly dipped since the decline started. More details is available from https://www.piermontgrands.com.sg/
It represents the 9th consecutive quarterly dip, but the decrease could start in 2013. In fair comparison, EL Development Condo real estate prices have dipped by 1.5%; the biggest drop since the start of the decreasing trend.
As spoken by the analysts, this is the third quarter of not obvious damage from the HDB resale segment. There are many people who agree that this trend increased control over the price of resale real estate.
A few property specialists contirbuted this to the new release of new launch properties next month, with the HDB planning to offer about 7,000 new properties and an additional 5,000 balance sales of flat in Punggol Sumang Development Condo.
The figures of exchanges is still larger than the figure for this same period for last year – many specialists claim that dip in price have encouraged more buyers to invest.
The private resale segment, the price drop was contributed seemed to be started by a 1.5% decrease across the suburban zone.
In addition the prices in the primary central areas dipped by 1.2%, which is thrice the 0.5% drop of the following quarter for Piermont Grand.
It could be that developers and investors are being overly cautious. Whilst investors are safeguarding themselves against more price dips, developers are keen to prevent conflicts with release dates as this might weaken demand further.
HDB resale prices have dipped by 1.7% during 2016, as mentioned followed by the predicts a total annual dip of only 2-2.5%. This is a great different from the 5% decrease in 2014.
There were a smaller portion of HDB exchanges, with 4,894 properties purchased – this is in contrast with 5,285 over the second quarter in CDL limited.